As at April 11, Lian Beng has an issued and paid-up share capital of $83.67 million comprising 499.7 million shares, which excludes the 30.1 million treasury shares. As at the same date, the Ongs - Ong Pang Aik, Ong Lay Huan, Ong Lay Koon, Ong Lee Yap, Ong Sek Chong & sons and OSC Investments Capital have executed irrevocable undertakings in favour of the offeror. The Ongs’ stake totals some 347.6 million shares representing a 69.56% stake in Lian Beng.
Lian Beng’s (SGX:L03
) Ong family, through OSC Capital, has made a cash offer of 62 cents to its shareholders. The offer will be unconditional in all respects. Following the completion of the offer, the company intends to delist from the SGX-ST.
OSC Capital, an investment holding company 51%-owned by Ong Pang Aik, Ong Lay Huan, Ong Lay Koon and Ong Lee Yap, made an offer to acquire all the shares that the Ong family does not already own in the company. The Ongs, including Ong Phang Hoo and Ong Phang Hui, are on the board of directors in OSC Capital.
